2017-07-18

Flow Analytics - Data Automation for Fintech Series

Flow Analytics and Data Automation for Wealth Management Firms


Leveraging Data

Wealth management firms should embrace their position as premium priced service providers. By combining their status as highly trusted custodian of client data with innovative technologies such as data automation, firms are well positioned to leverage data to enhance existing services and free up relationship managers time while paving the way for new service offerings such as building profitable relationships with clients in possession of fewer total assets.

Highly Trusted Data Cutodians

Wealth managers are already highly trusted custodians of client data, so maximizing their ability to capture, transform and analyze data will significantly improve their ability to compete. No-code data automation provides the ability to integrate and aggregate an unlimited number of multi-source data sets and gives firms the flexibility to meet all their clients needs without having to resort to manual processes. Further, data automation solutions work alongside and enhance the capabilities of existing all-in-one or best-breed-solutions preserving firms current technology investment.

about the author
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Ken McLaughlin

Ken is a managing partner with 4D-IQ and the lead developer of Flow Analytics. Before 4D-IQ, he co-founded Financial Technology Integrators where he led the development of InvestorsView, one of the first SaaS portfolio management, trading, and rebalancing platform for wealth managers. Before starting 4D-IQ, he was with Blackrock Financial where he developed risk analytics and optimization software.

Data Automation is an Enabling Technology

For wealth management firms, the uses of data automation are potentially limitless and require serious consideration. Data automation enables firms to leverage their data custodian role. Further, data automation allows wealth managers to cost-effectively specialize and focus on premium services involving clients with complex needs. Data automation makes existing business processes smarter and more efficient. Also, data automation can be used to incrementally augment and enhance existing all-in-one or best-of-breed solutions, preserving a firm’s current technology investment.

In summary, data automation enables:

  • broader data capture from more sources and more flexible use of captured data
  • better documented, repeatable, and more consistent and compliant processes
  • automation of manual processes for lower costs and increased scalability
  • rapid solution development and deployment for increased business agility

Data Automation Adoption

Firms should accelerate efforts to adopt a comprehensive data automation framework that integrates processes and data across all their activities. Data automation will free up time in the back, middle, and front office. Most importantly, data automation will free relationship managers to spend more time applying their judgment and expertise to client-centric activities.

Wealth management firms can employ data automation workflows for a range of activities and processes including:

  • performance reporting and risk analytics
  • managing and monitoring investment strategies
  • client data capture, aggregation, and enrichment
  • management reporting and business intelligence

View Working Examples of Data Automation in Flow Analytics FinTech Series

Based on long experience with over-hyped technologies that did not live up to their promise, wealth managers have a healthy skepticism of new technologies. Therefore, in this series of posts, I not only discuss how Flow Analytics, no-code solution development, and data automation can be used to solve current and emerging business challenges, I provide accessible, real-world examples of solutions readers can try for themselves.

Can't Find a Solution? Challenge Us


Do you have a challenging manual task or process that is inefficient, takes more time than it should, and you would like to automate, but you've been able to find a solution. Tell us about it, and we'll design a data automation workflow to overcome your challenge. Just go to our contact us page and either call us, send us a message with the subject "I have a challenge," or use the email link.